As the Fantom (FTM) price climbs to new monthly highs, investors are asking whether it might be too late to buy Fantom.
Last at $0.8744, FTM is up 35% in the past seven days according to CoinMarketCap.
A seemingly sudden shift in the SEC’s position on Ethereum ETFs has injected positive momentum into market this week.
Fidelity, Vaneck, Invesco, Ark 21Shares and Franklin all filed amended 19B-4 applications on Tuesday.
That comes one day after rumors emerged that the SEC might approve spot Ethereum ETFs as soon as this week.
That helped launch FTM nearly as high as $1.0 on Monday, with the price having since dropped around 5%.
While not in as much focus this week, macro is also more of a tailwind these days.
US jobs and CPI inflation data this month helped bolster bets for Fed rate cuts this year. Tomorrow’s Fed minutes release shouldn’t threaten that narrative too much.
When financial markets move to price in easier financial conditions, this tends to bolster crypto.
And high-beta altcoins like Fantom are especially sensitive to changes in financial conditions.
Fantom also recently kickstarted an exciting upgrade to integrate its innovative Sonic technology.
Introducing: Opera Upgrade Dashboard!
Starting today, validators on Opera are upgrading their nodes to be powered by our innovative Sonic tech.
Follow the real-time progress of the upgrade using our new dashboard https://t.co/GAobwXWRHJ pic.twitter.com/oYFRu4vhu6
— Fantom Foundation (@FantomFDN) May 14, 2024
The outlook in crypto markets seems tilted towards more near-term upside.
So is it too late to buy Fantom?
Is It Too Late to Buy Fantom?
Well, investors jumping in now will have missed the bottom of the recent price dip by a large margin.
But that doesn’t mean its too late to buy Fantom.
FTM remains nearly 30% below its 2024 highs. So investors can, at the very least, rest assured that they aren’t buying the market right at its recent peak.
Nor is the Fantom price anywhere near its long-term peak.
FTM briefly surpassed $3.70 in 2021, so it is still trading at a 75% discount versus its record highs.
If FTM can break to the north of its 2021 highs this cycle, investors could still bag 5x gains.
In that sense, it definitely isn’t too late to buy Fantom.
If Fantom (FTM) can hit new record highs this cycle, then that means it definitely isnt too late to buy Fantom. Source: TradingView
Fantom Alternative to Consider – Wiener AI (WAI)
The outlook for Fantom is strong this bull market. The Fantom Foundation is pushing to kickstart a meme season on the blockchain.
Introducing: Meme Season!
With up to 10 MILLION $sFTMx in prizes, the Meme Season competition invites memecoins and holders on #Fantom to compete for the top spots.
Round 1: June 1–30
Prize: Up to 1M $sFTMx
Learn more https://t.co/ovX0swL0sq pic.twitter.com/Ikt5H14KZo
— Fantom Foundation (@FantomFDN) May 21, 2024
If successful, this could accelerate FTM’s appreciation, as seen with Solana.
But, as noted, FTM’s gains this bull market might be limited to as much as 5x.
Those gains are to be sniffed at. But some crypto traders will be targeting much greater upside.
Such traders often flock to the meme coin market hunting for gems.
One potential meme coin gem that analysts at Cryptonews like a lot is Wiener AI (WAI).
The sausage dog-themed coin offers useful AI-powered trading tools and has already raised over $2.5 million in its presale.
REASONS 1-10:
AI TRADING BOT. WIENER DOGS.
That is all.
— WienerAI (@WienerDogAI) May 21, 2024
WAI is not only a meme coin with AI capabilities but also a potential passive income gem.
20% of the supply has been allocated to staking rewards, and investors are currently earning a massive 396% APY, as per the project’s official website.
How staking your $WAI feels.https://t.co/g0LrikQz90 pic.twitter.com/3VneRo9wTq
— WienerAI (@WienerDogAI) May 9, 2024
At this rate, investors can double their initial presale investment in just a few months.
Crypto experts have been lining up to join the Sausage army. Here’s why widely followed crypto analyst Michael Wrubel, who boasts over 312,000 YouTube subscribers, ranks WAI as a top crypto for 2024.
Interested investors need to move quickly, as the WAI price will rise when the presale hits $2.7 million.
At the current price of $0.000709, WAI’s market cap is under $50 million.
If it achieves market leadership, early investors stand to benefit greatly, with a potential for 100x gains or more.
The post Is It Too Late to Buy Fantom? FTM Price Climbs as New AI Project Raises $2.2 Million appeared first on Cryptonews.